Fred's, Inc. (FRED) Reports November Same-Store Sales Increase

Fred's, Inc. (NASDAQ: FRED) reported sales for the four-week fiscal month of November.

Fred's total sales for the month increased 7% to $150.5 million from $140.2 million in November 2005. Comparable store sales for November rose 2.0% compared with a 4.5% increase in November 2005 comparable store sales.

Commenting on the announcement, Michael J. Hayes, Chief Executive Officer, said, "November sales matched the goals we set in our revised forecast for the month. Our added marketing efforts during November exceeded expectations and our pharmacy departments continued to perform well. Our after-Thanksgiving sales - while robust - were off from 2005, but still on reforecast. Although we expect the remaining Christmas season to be extremely competitive, we are optimistic about our sales and inventory goals for the holiday season."

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